Janus Henderson Group PLC Acquires New Position in Promis Neurosciences $PMN

Janus Henderson Group PLC acquired a new position in shares of Promis Neurosciences (NASDAQ:PMN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,292,757 shares of the company’s stock, valued at approximately $16,418,000. Janus Henderson Group PLC owned about 14.41% of Promis Neurosciences at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new position in Promis Neurosciences in the 1st quarter valued at about $1,211,000. Citadel Advisors LLC increased its holdings in shares of Promis Neurosciences by 168.1% during the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock worth $72,000 after buying an additional 106,650 shares during the last quarter. Ally Bridge Group NY LLC raised its position in shares of Promis Neurosciences by 66.1% during the 1st quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock valued at $5,261,000 after buying an additional 164,880 shares during the period. Yu Fan purchased a new stake in shares of Promis Neurosciences during the 1st quarter valued at approximately $4,188,000. Finally, Armistice Capital LLC lifted its holdings in Promis Neurosciences by 39.1% in the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after acquiring an additional 836,622 shares during the last quarter. 50.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Roth Capital initiated coverage on Promis Neurosciences in a research report on Tuesday, July 7th. They issued a “buy” rating and a $19.00 price objective for the company. Cantor Fitzgerald began coverage on Promis Neurosciences in a research note on Tuesday, June 30th. They issued an “overweight” rating on the stock. Wall Street Zen upgraded Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Guggenheim reissued a “buy” rating and set a $69.00 price objective (up from $35.00) on shares of Promis Neurosciences in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded shares of Promis Neurosciences to a “hold” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Promis Neurosciences currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Promis Neurosciences Stock Up 3.1%

Shares of PMN stock opened at $14.14 on Tuesday. The firm has a 50 day moving average of $12.01 and a two-hundred day moving average of $13.27. The stock has a market capitalization of $126.81 million, a PE ratio of -0.97 and a beta of -0.23. Promis Neurosciences has a 52 week low of $6.27 and a 52 week high of $27.40.

Promis Neurosciences (NASDAQ:PMN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.20). Analysts expect that Promis Neurosciences will post -5.08 EPS for the current fiscal year.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.